Notes

• Voluntary Transfers Out from Unrestricted Accounts can be made to other Unrestricted Accounts.
• ​Transfers cannot be made between State Accounts and Non-State Accounts. 
• ​Cash transfers into or from gift account are not prohibited, but generally should be avoided. There may be unique situations where a cash transfer is needed, and those can be evaluated on a case by case basis.

Steps

1. List all Transfers Out for Current Year¹ and Budget Year² by Account Number.
2. Include a description of the purpose of the transfer.
   • i.e. What the funds will be used for in the Transfer In account.
3. Mandatory Transfers Out are ones that are made to accounts in Fund FD806 for Debt Service for a bond or bank loan.
   • List the Transfer To account number and the bond or loan to be paid with the transfer.

Calculated Amounts

There is a calculated amount on this form:

1. Admin Overhead is calculated at 3.5% of the revenue projections on Form R1, excluding Transfers In and Gifts.
   • This expense will post to the account at the beginning of each quarter for the revenue collected in the prior quarter.

The Operations line should maintain sufficient allocation to cover these assessments when they post in the Budget Year³.